The approval came after “ADNOC” presented solutions that included amending the materials of its basic system and sharing “Covestro”‘s patents in the field of sustainability, which alleviated the Commission’s concerns about competition. The commitments are valid for 10 years, with continued patent protection during any subsequent licensing agreements, according to a statement from the European Commission.
The deal, valued at $17 billion, was concluded in October 2024 after lengthy negotiations, and its completion is contingent upon full adherence to the proposed solutions by “ADNOC”. This deal is the largest in “ADNOC”‘s history and one of the largest European acquisitions by a Gulf state, according to Western media.
